De La Rue shares plunge as its posts drop in profit and cuts dividend
27th May 2015 07:18
Shares in banknote printer De La Rue plummeted 9% on Wednesday after the company said pre-tax profit dropped by a third to £38.9m for fiscal 2015, and posted a cut in the dividend to 25p per share from 42.3p. Underling profit before tax, which excluded items, came in at £57.7m from £77.3m a year ago
Read moreDe La Rue takes £13.5m hit to resolve bank note dispute
27th Apr 2015 14:40
Banknote printer De La Rue will take a £13.5m non-cash hit from a disputed contract with a major customer and said it felt the long-standing issue was now mostly resolved. Production of paper bank notes for what the company called a "principal customer" had been found to contain some notes which had
Read moreFTSE 250 movers: Centamin lower on Alecto Minerals split, De La Rue strong on potential bid
18th Feb 2015 13:52
Centamin was in the red after revealing it was pulling out of its joint venture with Alecto Minerals in Ethiopia. Results from its 2014 drilling programme, which included 25 diamond drills holes at Wayu Boda, and the analysis of surface work carried out during the year will be handed to Alecto when
Read moreDe La Rue CFO to step down, as firm maintains guidance
29th Jan 2015 11:34
Colin Child, the finance director of banknote printing firm De La Rue, has announced he will step down from his role. Child said he would resign from his current position at the group's annual general meeting on 23 July and the FTSE 250 group confirmed a search for his replacement was underway. The
Read moreDe La Rue slashes dividend as interim profits slide
25th Nov 2014 08:31
Bank note printer De La Rue has posted a 36% drop in first-half profits amid pressure from tougher market competition that is expected to continue to hit margins into the next financial year. Year-on-year revenue growth for the six month period to September slid 8% to £214.9m, while pre-tax profit f
Read moreFTSE 250 movers: Synergy Health soars on Steris Corp buy-out
13th Oct 2014 15:27
Synergy Health shares rocketed after it was announced US-based medical technology group Steris Corp. had agreed to buy the UK company for $1.9bn. Synergy shareholders will be paid 439p a share in cash and 0.4308 shares in the newly combined group, valuing shares in the FTSE 250 group at £1.2bn, or 1
Read moreDe La Rue inks new 10-year contract with Bank of England
13th Oct 2014 14:21
Bank note printer De La Rue has inked a new 10-year contract with the Old Lady of Threadneedle Street to provide it with its sterling banknotes On 8 September De La Rue had already been identified as the 'preferred bidder' to win the tender. Now that the subsequent assurance activity has been comple
Read moreFTSE 250 movers: Balfour Beatty dives after warning on profits
29th Sep 2014 15:32
Balfour Beatty tumbled after it said its 2014 fiscal year results would be hurt by a profit shortfall of about £75m in its UK construction services division. The company conducted internal reviews which showed a further profit shortfall due to additional losses and write-downs across a number of con
Read moreMonday broker round-up UPDATE
29th Sep 2014 09:22
Aberdeen Asset Management: Canaccord Genuity cuts target price from 460p to 430p and stays with its hold recommendation. Numis upgrades from hold to add with a target price of 455p. Balfour Beatty: Westhouse Securities places its target price under review keeping a sell recommendation. Circle Holdi
Read moreLondon close: Stocks end with modest gain, but down on week overall
26th Sep 2014 16:48
UK stocks ended the final session of the week with a modest rise, although on the week the index was significantly lower. The FTSE 100 closed 9.68 points higher at 6,649.39. Markets are concerned about mounting geopolitical tensions, with the government due to take a vote on whether to participate
Read moreFTSE 250 movers: De La Rue dives after issuing profit warning
26th Sep 2014 15:51
Slower-than-expected growth in its solutions division and challenging market conditions in its currency division have forced security documents designer and producer De La Rue to issue a profit warning, sending shares sharply lower. The company said it expects operating profit and underlying profit
Read moreBroker tips: Balfour Beatty, De La Rue, TSB
26th Sep 2014 13:13
Deutsche Bank has recommended buying shares in Balfour Beatty, saying the group presents an "attractive" opportunity. The analyst said the firm's planned disposal of Parsons Brinkerhoff will improve the company's balance sheet following profit warnings in the construction division. "After several p
Read moreLondon midday: BAE Systems leads gains on geopolitical worries
26th Sep 2014 12:14
The Footsie had reverted to positive higher by midday ahead of the release of two first-tier economic indicators in the States on Friday afternoon. UK equities traded lower throughout the better part of the morning, ignoring overnight losses in US markets which saw the Dow Jones Industrials and S&P
Read moreInvestec issued forecast downgrade after De La Rue's profit warning
26th Sep 2014 09:40
In a note issued on Friday, Investec Securities said it had lowered its earnings before tax, interest, and amortisation (EBITA) forecast for the banknote printer De La Rue to £64.1m for the 2015 fiscal financial year. Investec had originally forecasted EBITA to be £88.2m but in the wake of the profi
Read moreLondon open: Footsie slips as Russia threatens immediate retaliation
26th Sep 2014 08:54
The Footsie slipped quickly into the red after the start of trading on Friday, with US stocks having fallen deeper into the red for the month of September overnight amid on-going geopolitical concerns about both Russia and Iraq. Vladimir Putin has demanded that the European Union re-open a trade pac
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